Bigfoot Biomedical said yesterday that it raised $35.5 million in a Series A round for the artificial pancreas technology it’s developing to treat Type I diabetes. The round, led by Quadrant Capital Advisors, included backing from Cormorant Asset Management, Senvest Capital, and Visionnaire Ventures. Bigfoot said it plans to use the proceeds to fund the final development of […]
Funding Roundup
iRhythm prices IPO above the range, raises $107m
iRhythm Technologies yesterday increased the scale of its initial public offering, pricing the flotation above its prior range at $17 per share and increasing the number of shares on offer. Earlier this month iRhythm said it planned to float 5.35 million shares priced between $13 and $15 apiece. Yesterday the San Francisco-based company added nearly 1.1 million shares, for a […]
Ysios Capital raises $140m for 2nd life science fund
Biotech venture capital firm Ysios Capital said today it has raised $140 million (€126.4 million) for its 2nd life science fund, Ysios BioFund II Innvierte. The closing exceeded its initial target of $110 million (€100 million), the VC shop said. The Spanish firm said it plans to finance up to 15 biotech, medtech and diagnostic […]
Quark Venture, China’s GF Securities launch $500m life sciences fund
Quark Venture Inc. and GF Securities said this week that they’re launching a $500 million global health sciences venture fund based in Vancouver. The fund is the largest of its kind in Canada and will invest primarily in biotechnology and health science companies. Quark Venture said investments have already begun, with a 1st $100 million transaction with an […]
FDA awards product development grants for rare diseases
The FDA said yesterday that it awarded 21 clinical trial research grants totaling more than $23 million over the next 4 years to stimulate product development for patients with rare diseases. The Orphan Products Clinical Trials Grants Program has awarded more than $370 million to fund more than 590 clinical studies since its creation in […]
Profound Medical looks to raise $15m
Profound Medical (TSX:PRN) said today that it pulled in a $13.2 million (C$17.4 million) funding round that includes an over-allotment option that could bring in another $2 million (C$2.6 million). Led by GMP Securities, the syndicate of underwriters agreed to buy 15.82 million shares at about 84¢ (C$1.10) apiece, with an optional over-allotment of 2.373 million shares for the 30 […]
Endonovo Therapeutics raises $10 million
Endonovo Therapeutics (OTC:ENDV) said today that it landed a $10 million funding agreement with an institutional investor. The funding consists of $1 million in convertible notes, with $600,000 already received and $400,000 to be received upon SEC registration approval, and up to $9 million through a securities purchase agreement after 30 days from its SEC registration date. […]
Medtronic, LivaNova get in on $12m round for European medtech incubator MD Start
A European medical device incubator said yesterday that it raised nearly $12 million from backers including Medtronic (NYSE:MDT) and LivaNova (NSDQ:LIVN). Paris-based MD Start invested in 3 companies using its 1st fund and has already invested in a 4th from the just-announced $11.5 million fund, which was led by French public investment bank Bpifrance and included Sofinnova Partners. “MD Start II […]
Firms in Minnesota’s Medical Alley raised $117m in Q3
Firms in Minnesota’s Medical Alley raised $117 million during the 3rd quarter, bringing their total year-to-date funding to $335.8 million, the trade group reported today. Medical Alley, which rebranded from LifeScience Alley in January, reported that 77 companies from the region completed funding rounds in 2016, matching 2015’s numbers between the 1st and 3rd quarters. “Medical Alley continues to […]
Histogenics raises $30m for NeoCart regenerative knee treatment
Histogenics (NSDQ:HSGX) said last month that it raised $30 million in a private placement it plans to use for a pivotal trial of its NeoCart regenerative knee treatment. The Waltham, Mass.-based company said the round, of equity, convertible stock and warrants, was led by new institutional investors and some of its existing backers. The cash […]
JDRF backs Canadian islet transplant trial for Type I diabetes
The Juvenile Diabetes Research Foundation said today it is backing a 3 year study conducted by researchers at the University of Toronto to improve islet transplantation and make the procedure available for patients with type 1 diabetes. The research group was awarded $845,135 ($1.1 million Canadian) to evaluate if transplanting islet cells under the skin […]